Monetary Defaults. Borrower fails to make any payment of principal of, or interest on the Loan or the Note when and as due (whether at maturity, by reason of acceleration, at the discretion of Lender after an Event of Default, or otherwise).
Appears in 2 contracts
Sources: Credit and Security Agreement (Global Axcess Corp), Credit and Security Agreement (Global Axcess Corp)
Monetary Defaults. Borrower fails to make any payment of principal of, or interest on the Loan or the Note when and as due (whether at maturity, by reason reason, of acceleration, at the discretion of Lender after an Event of Default, or otherwise).
Appears in 1 contract